PNS INVESTMENTS LIMITED Filleted accounts for Companies House (small and micro)

PNS INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11570863

PNS INVESTMENTS LIMITED

Filleted Unaudited Abridged Financial Statements

31 December 2020

PNS INVESTMENTS LIMITED

Abridged Statement of Financial Position

31 December 2020

	2020	2019
Note	£	£

Fixed assets

Investments	4	1,999,999	1,999,999

Current assets

Debtors	15,500	2,310
Cash at bank and in hand	337,425	224,247
	---------	---------
	352,925	226,557

Creditors: amounts falling due within one year	78,599	128,754
	---------	---------
Net current assets	274,326	97,803
	------------	------------
Total assets less current liabilities	2,274,325	2,097,802

Creditors: amounts falling due after more than one year	43,000	–
	------------	------------
Net assets	2,231,325	2,097,802
	------------	------------

Capital and reserves

Called up share capital	5	2,000,000	2,000,000
Profit and loss account		231,325	97,802
		------------	------------
Shareholders funds		2,231,325	2,097,802
		------------	------------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

PNS INVESTMENTS LIMITED

Abridged Statement of Financial Position (continued)

31 December 2020

These abridged financial statements were approved by the board of directors and authorised for issue on 26 November 2021 , and are signed on behalf of the board by:

Pulkit Shah	Nira Shah
Director	Director

Company registration number: 11570863

PNS INVESTMENTS LIMITED

Notes to the Abridged Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 44 Gerard Road, Harrow, HA1 2NG.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Investments

	£
Cost
At 1 January 2020 and 31 December 2020	1,999,999
	------------
Impairment
At 1 January 2020 and 31 December 2020	–
	------------
Carrying amount
At 31 December 2020	1,999,999
	------------
At 31 December 2019	1,999,999
	------------

Investments held at valuation

In respect of investments held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	£
At 31 December 2020
Aggregate cost	1,999,998
Aggregate depreciation	–
	------------
Carrying value	1,999,998
	------------

At 31 December 2019
Aggregate cost	1,999,998
Aggregate depreciation	–
	------------
Carrying value	1,999,998
	------------

5. Called up share capital

Authorised share capital

	2020		2019
	No.	£	No.	£
Ordinary shares of £ 1 each	2,000,000	2,000,000	2,000,000	2,000,000
	------------	------------	------------	------------

Issued, called up and fully paid

	2020		2019
	No.	£	No.	£
Ordinary shares of £ 1 each	2,000,000	2,000,000	2,000,000	2,000,000
	------------	------------	------------	------------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2020
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Pulkit Shah	( 23,316)	22,684	( 632)
Nira Shah	( 23,315)	22,684	( 631)
	--------	--------	-------
	( 46,631)	45,368	( 1,263)
	--------	--------	-------

	2019
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Pulkit Shah	–	( 23,316)	( 23,316)
Nira Shah	–	( 23,315)	( 23,315)
	----	--------	--------
	–	( 46,631)	( 46,631)
	----	--------	--------

7. Related party transactions

The company was under the control of Pulkit Shah and Nira Shah throughout the current and previous year. Pulkit Shah and Nira Shah both are the managing directors and equal share holders.The company holds 100% (in total) of issued share capital of PNS Nurseries Ltd, In which both are directors as well.